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How Connected TVs Are Changing the Way We Shop

Connected TV, no matter which way you splice the cord, has upended the media consumption game. And a recent report from Parks Associates found that this space’s next frontier could be t-commerce—television commerce.

There are so. many. numbers. in their “Interactive & Shoppable TV” whitepaper, produced in coordination with Adeia, but the one figure that stands out in particular is this: 8 percent of consumers purchased a physical good through a connected TV platform in the past 30 days. That number paled in comparison to the 24 percent who’ve subscribed to an online video service or the 15 percent who’ve rented or purchased a movie, but it’s a growing figure, and one that shows consumers are engaging with new types of interactive advertising experiences on their connected televisions.

What’s more, Parks Associates found that consumers are more than willing to go even further with these experiences. According to the white paper, 52 percent of the consumers surveyed said they would be likely or very likely perform at least one of the following actions through a connected TV platform:

  • Order food from special promotions on TV
  • Click for more info on an item that catches their eye in a program
  • Click for more info on an item advertised during a commercial break
  • Shop for special merchandise related to the show or event they’re watching
  • Purchase items featured on a shopping channel

Another major opportunity comes in the form of sports viewers in particular, who represent some 43 percent of all internet-enabled households in the U.S. The report showed that 32 percent of sports watchers would be interested in placing bets in a streaming service prior to or during a live event.

“Industry players can take productive steps today to advance the interactive TV experience for viewers and advertisers by connecting workflows, making effective use of available data, and optimizing user experience elements for interactivity,” Jennifer Kent, Vice President of Research for Parks Associates, said in a statement earlier this month for the launch of the report. “Success involves building sustainable, scalable solutions for the long term rather than quick, band-aid solutions that address only immediate challenges.”

From the article, "How Connected TVs Are Changing the Way We Shop" by Rob Stott

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